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According to #TechSci Research Report, global market for business continuity management is expected to undergo double-digit growth during the forecast period. Report URL- https://bit.ly/3el1ORR
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2015 – 2025 GLOBAL BUSINESS CONTINUITY MANAGEMENT MARKET FORECAST & OPPORTUNITIES www.techsciresearch.com MARKET INTELLIGENCE . CONSULTING
Scope of Report Product of Interest (POI): Business Continuity Management Global business continuity management market is expected to grow at a robust CAGR during the forecast period. The growth in IT sector can be held responsible for the market share of the BCM companies as the advancement in technology also brings along high financial investment risks, for instance, encryption and decryption risks, cybercrimes and security risks, etc. Thus, it is quite indispensable for the companies to install business continuity management solutions to ensure safety solutions, avoid financial loss on the extra organizational issues that they might face and maintain a healthy work environment. Market Segmentation DEPLOYMENT TYPE INDUSTRY • On premise • Cloud • BFSI • Government • Healthcare • Transportation & Logistics • Energy & Utilities • Manufacturing & Retail • Telcom & IT • Others (Hospitality; Oil & Gas; Automotive; and Entertainment OFFERING Review Period 2015 – 2018 Base Year 2019 Estimated Year 2020 Forecast Period 2021 – 2025 • Solution • Crisis Management • Risk Management • Audit Management • Government Risk and Compliance (GRC) • Others (Supplier Management; Cybersecurity Management • Service • Professional • Managed Year Range ORGANIZATION SIZE • Small & Medium Enterprise (SME) • Large Enterprise APPLICATION • Business Continuity & Disaster Recovery • Data Center & Data Center Networking • Governance Risk & Compliance • Risk Management REGION • North America • Europe • Middle East & Africa • Asia-Pacific • South America
Research Methodology Market Profiling Data Analysis Data Collection Data Validation Developing List of Respondents Formulating Questionnaire In-depth secondary research was conducted to determine top players in the global business continuity management market, overall market size and segmental market size. The data was scrutinized using MS-Excel, statistical tools and internal proprietary database to obtain qualitative and quantitative insights about the global business continuity management market. Data obtained as a result of primary and secondary research was validated through rigorous triangulation. TechSci conducted interviews with industry experts and industry players for data collection and verification. In order to conduct industry experts’ interviews, TechSci formulated a detailed discussion guide. List of industry players and industry specialists was developed. Actionable Insights Data Filter & Analysis Business Solution Research & Intelligence Data Collection Primary Research Desk Research Company Analysis • Recent Developments • Market Changing Aspects/Dynamics • Government Policies • Conclusion • Market Participants • Key Strengths • Identifying Key Opinion Leaders • Questionnaire Design • In-depth Interviews Primary Research Secondary Research Paid Sources • LinkedIn • TechSci Internal Database • Company Websites • Company Annual Reports • White Paper Study • Financial Reports • Investor Presentations • Regulatory Body • Associations, etc. • Factiva • Hoovers
Research Methodology Baseline Methodology Our dedicated team of industry experts has monitored and analyzed various aspects of the global business continuity managementmarket. The team has analyzed the outlook of various segments of this market, while considering the major influencing factors such as growth in IT sector and the advancement in technology that brings along high financial investment risks, cybercrimes and security risks. The study includes market forecasting, which would enable our clients to take better decisions while planning their strategy to achieve sustainability in the global business continuity managementmarket. Methodology Followed for Calculation of Market Size: • Market Size by Value: Market size, in terms of value, for the year 2019 was calculated based on information collected through exhaustive secondary research and primary surveys, with various key opinion leaders/stakeholders, such as companies, suppliers, distributors, market influencers & end users, industry experts, and other industry participants. • The team interviewed more than 15 – 20 companies, 100 – 120 end users, 15 – 20 industry experts and other value chain stakeholders in the global business continuity management market to obtain the overall market size from 2015 to 2019, which was validated by the Delphi technique. Taking standard deviation into consideration, the market size was averaged out, to arrive at the market size data during 2015-2019.
Research Methodology • Respondents were asked about the current and future market growth rates, market shares by offering, by deployment type, by application, by organization size, by industry, by each region, and by company. Removing the outlier responses, the geometric mean of growth estimates and provider wise revenue shares generated across various segments were considered, to arrive at the final revenue shares. Revenue shares generated across various segments were further triangulated from other stakeholders. Methodology Followed for Calculation of Market Shares: • Market shares shares by offering, by deployment type, by application, by organization size, by industry, by each region, and by company were calculated based on the responses received through primary surveys with industry experts, in which the respondents were asked about the market shares or revenue generated from various segments of business continuity management market. The final shares were calculated by taking the geometric mean of the responses gathered from key opinion leaders after eliminating the outliers. Methodology Followed for Forecasting: • TechSci Research performed periodical checks on data collected through the surveys with logic checks and analyzed the survey results in SPSS/Tableau Software. • Data triangulation techniques were applied to fill the gaps and to present a more meaningful picture of the market. To forecast global business continuity managementmarket, TechSci Research used various forecast techniques such as: Moving Average Time Series Analysis Regression Analysis Econometric and Judgmental Analysis
Research Methodology TechSci Research used its own forecast tool, which is based on the growth of various allied industries in respective regions. TechSci Research also used the impact analysis during short, medium and long term period to estimate the demand and to reach accurate market numbers. It should be noted that the figures compiled are only for the organized market including market share data. The currency used in the report is the United States Dollar (USD), with the market size indicated in USD million.
Industry Brief According to TechSciResearch report, “Global Business Continuity Management Market, By Offering, By Deployment Type, By Application, By Organization Size, By Industry, By Region, Forecast & Opportunities, 2025”, global market for business continuity management is expected to undergo double-digit growth during the forecast period. Business Continuity Management (BCM) is basically a mapping exercise in order to ensure that the products and services are delivered to the clients at the desired time without any grievances from their end and disruptions from the organization’s end. This is done to ensure that the organizations avoid financial loss that comes along with the rapid growth in the IT sector. Several operational risks also come along with the new-emerging organizations, for instance, encryption & decryption risks, cybersecurity risks, conduct & management risks, client & vendor risks and other risks that can eventually lead to the deteriorating of the market. Thus, in order to avoid these challenges, the SMEs and even the large enterprises have started adopting the business continuity management solutions with the assistance of sturdy risk mitigation, real-time risk management strategies and better risk accountability to sustain their existence in the market. Furthermore, the organizations can also seek help from the government in the aspects of audit and crisis management along with providing the best possible solutions and services to the companies. Increasing number of cybersecurity solutions which make companies aware of the possible risks and attacks are further anticipated to contribute to the burgeoning demand of the BCM solutions. Even though the BCM market has undergone substantial growth in recent years, there are few factors that can be held responsible for restraining the market. With the increasing indulgence of the internet globally, it is important for the emerging markets, especially the ones who are developing parallelly with the rapidly changing business environment, to be aware of the possible risks and the respective solutions to it. Thus, for the developing companies, it is quite arduous to cope up with the business continuity management solutions due to lack of financial support which might consequently restrain the market during the forecast period. The market segmentation is based on offering, deployment type, application, organization size, industry and region. On the basis of organization size, the segment is further bifurcated into small & medium enterprises (SMEs) and large enterprises. As of 2019, the largest share in the BCM market was held by large enterprises on account of their capabilities to provide funds for the IT sector that is anticipated to strengthen the business continuity management solutions in that organization. However, during the forecast period, SMEs are expected to witness an increase in their market share in order to safeguard their business structure and work environment. Thus, they are gradually getting inclined towards the adoption of BCM and expanding their market share and consumer base. In terms of regional analysis, North America is expected to lead the market revenue share owing to the presence of an ample number of IT companies and business enterprises in the region along with the increasing of security threats. Besides, other regions including Asia-Pacific and other geographies also account for a considerable share in the BCM market which is again due to the increasing SMEs and large enterprises and the strengthening of the rules and regulations by the government on BCM in the region. The leading players in the global business continuity management market include Avalution Consulting LLC, BC Management Inc/CA, Green House Data Inc, Mancon LLC, Dell International LLC/EMC Corp, StorageCraft Technology Corp, Metricstream Inc, Virtual Corp, Logicmanager Inc, Fusion Risk Management Inc, Continuity Logic LLC, etc. Increasing the market share is the major objective of organizations and thus to achieve this, they endorse different strategies, for instance, mergers, launching of new products, introduction of new strategies, etc. “Global business continuity management market is anticipated to witness double digit growth in the next five years as the technology is assisting companies in various end user industries in business expansion. These industries will be able to sustain only if they invest their funds profitably in the BCM market as per the company requirements regarding cybersecurity, encryption & decryption risks, cybersecurity risks, conduct risks and other risks that might restrain the market during the forecast years. Thus, the adoption of the business continuity management solutions for organizational security is anticipated to be the major driving factor in this market until 2025,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
Sample Data - Snapshot Global Business Continuity Management Market Size, By Value (USD Million), 2015-2025F CAGR By Value CAGR By Value XX% YY% North America Business Continuity Management Market Share, By Offering, By Value, 2015–2025F United States Business Continuity Management Market Share, By Industry, By Value, 2015–2025F
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